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Dollar hikes by Rs. 2.5 in open market
As initial reactions of the IMF bailout package come out, dollar has again hiked in price in the open market. Currently, after an increase of 2.5 PKR dollar is trading at Rs. 146.25.
After the government accepted IMF’s condition of the market’s demand and supply deciding the value of dollar, it is being forecast that the rupee will further devalue in comparison.
The State Bank of Pakistan has taken notice of the increase in dollar rate. A meeting of the Finance Minsitry has been summoned in this regard seeking a review of the price different in the open market and inter bank.
In the inter bank market, dollar price has hiked up by 26 paisas and it is currently trading at Rs. 141.35.
